Why an AI Slowdown Could Collapse Under Commercial and US-China Pressure
Related
Semiconductor experts from across the country gathered in Dezhou to tackle the localization of sputtering targets.
According to Mars Finance, the Innovation and Development Conference of High-Purity Sputtering Targets for Integrated Circuits (Dezhou) was held. Guided by the State-owned Assets Supervision and Administration Commission of the State Council, the conference was jointly hosted by China Research Institute of Nonferrous Metals Industry Co., Ltd. and the Integrated Circuit Materials Industry Technology Innovation Alliance. Closely aligned with the strategic deployment of scientific and technological innovation, the conference brought together industry academicians and experts, representatives from various market entities, universities, and research institutes to discuss pathways for tackling key material technology bottlenecks and solidify the foundation for independent control of the integrated circuit industry chain. Ao Hong, Secretary of the Party Committee of the China Nonferrous Metals Industry Association, stated that with the ongoing global technological revolution and industrial transformation, integrated circuits have become the nation's top emerging pillar industry. High-purity sputtering targets, as a core basic material for chip manufacturing, directly determine the security and stability of the domestic integrated circuit industry chain. He fully affirmed the phased achievements of the domestic nonferrous new materials industry and stated that the China Nonferrous Metals Industry Association will fully support the quality improvement and upgrading of the sputtering target industry from three dimensions: First, adhere to innovation-led development and promote the deep integration of the industry chain and innovation chain; second, improve the standard system, build industrial competitive advantages, and seize the commanding heights of industry development; third, build a collaborative and shared platform to gather and integrate the advantageous resources of the entire industry chain and help the sputtering target industry achieve steady and long-term development. (China Nonferrous Metals News)
NVIDIA, vivo, Sequoia China, and other companies are jointly increasing their investment in the Bilibili AI Creation Open Competition.
According to Mars Finance, NVIDIA, Zhipu, vivo, Sequoia China, and ZhenFund have jointly increased their investment in the "Build in bilibili · AI Creation Open Competition." Zhipu and NVIDIA will each inject 10 billion tokens and provide NVIDIA RTX AI technology experts and new product support to lower the barriers to innovative application development and help ideas become commercial reality. vivo will participate with its new foldable flagship device and Atomic Workbench, providing tens of millions of traffic, cash, and in-kind support to promote the implementation of the mobile AI terminal ecosystem. On the capital side, Sequoia China and ZhenFund will also fully follow up on the project's implementation.
IDC released a global commercial service robot report, showing that Chinese manufacturers accounted for over 90% of shipments.
According to a report by China News Service, citing a data release from International Data Corporation (IDC) on July 7th, the global commercial service robot market reached $1.37 billion in 2025, a year-on-year increase of 35.7%, with approximately 155,000 units shipped, representing a year-on-year increase of 44.1%. Chinese manufacturers, leveraging their supply chain and AI technology innovation advantages, continued to lead the global market, accounting for over 90% of the market share among the top ten global manufacturers. In terms of sub-categories, commercial cleaning robots saw the fastest growth, with approximately 58,000 units shipped in 2025 (+83.8%), reaching a market size of over $760 million. Delivery robots remained the largest segment in terms of shipment volume, with approximately 84,000 units shipped (+30.2%). Regarding regional distribution, China maintained its position as the world's largest market with a share of approximately 38%, while Latin America saw the fastest growth with a year-on-year shipment growth rate of 84.4%. IDC predicts that global shipments of commercial service robots will reach 454,000 units by 2030, with the market size expected to grow to $3.17 billion.
China Galaxy Securities: Structural Breakthrough Focuses on Science and Technology Innovation Manufacturing; Main Theme Shifts to Three Major Directions: Semiconductors, AI, and Aerospace.
According to a research report released by China Galaxy Securities, the main theme within the technology and manufacturing sector has clearly shifted from "AI + New Energy" in May to "Semiconductors + AI + Aerospace" in June. Thematic rotation has slowed compared to May, and the market's main focus is more concentrated. Considering macroeconomic, style, and industry signals, the current market presents a pattern of "macroeconomic pressure + clear structural themes." While the overall environment constrains risk appetite, funds have reached a high degree of consensus on manufacturing upgrades, energy security, and AI industry trends, continuously flowing into the science and technology innovation, semiconductor, aerospace, and manufacturing sectors, making them the areas with the strongest relative return potential in the market. In terms of style, the growth sector continues to dominate, which corroborates the structural strength of the science and technology innovation and manufacturing themes, together forming the core allocation logic at this stage. (Cailian Press)
Serenity: Funds in China's primary market are flowing into physical AI and world models, with funding for cutting-edge models concentrating on leading companies.
According to Mars Finance, on July 3rd, Serenity published an article stating that, based on AI investment in China's primary market, institutional funds are flowing towards embodied intelligence, physical AI, and world models. The article cites approximately $23.56 billion in funding for large-scale models/LLMs, $15.74 billion for AI infrastructure and technology layers, $13.36 billion for embodied intelligence/physical AI, $8.79 billion for AIGC applications, and $3.82 billion for autonomous driving and other Top-20 clusters. However, this figure is not entirely comparable to the aforementioned categories. Early-stage, purely basic model funding has essentially closed, with more funds flowing to established leading companies and world model companies. The article believes a similar trend may emerge in the US market, with funds concentrating on leading companies like Anthropic and OpenAI, and that "world models have become the biggest consensus in early-stage investment." Several months ago, Serenity believed that 4D AI/world modeling would be the most noteworthy area to watch, mentioning that AEVA might offer exposure to this sector. However, there are currently no clear pure-play targets in the market, and we may need to wait for the next batch of IPOs in this field. Serenity stated that AIGC applications are the most mature area of AI technology commercialization, but there are currently no clear winners. Funds continue to flow into AI infrastructure and the semiconductor supply chain, while a large amount of capital is rotating into physical AI, embodied intelligence, humanoid robots, and world modeling, with cutting-edge modeling continuing to concentrate on leading companies.
Digital China: Wins bid for a Huawei intelligent computing server procurement project from a major state-owned bank, with an estimated value of 371 million yuan.
Mars Finance reported on July 3 that Digital China (000034.SZ) announced that its subsidiary, Beijing Shenzhou Kuntai Information Technology Co., Ltd., won a Huawei intelligent computing server procurement project for a large state-owned commercial bank. The estimated procurement amount is 371 million yuan (subject to actual settlement). The project will supply Shenzhou Kuntai supernode servers. If successfully implemented, it will have a positive impact on the company's information technology application innovation business and overall operating performance. Currently, a formal contract has not yet been signed, and there is some uncertainty. (Company Announcement)